US lawmakers seek $1 billion to fund FTC privacy probes

US House Democratic lawmakers late on Thursday proposed awarding the Federal Trade Commission $1 billion to set up a bureau dedicated to improving data security and privacy and fighting identity theft.

The proposal, which Democrats plan to include in a $3.5 trillion spending measure, would fund over 10 years a new bureau to address "unfair or deceptive acts or practices relating to privacy, data security, identity theft, data abuses, and related matters," according to a summary released by the House Energy and Commerce Committee